Alfa Laval share price has rallied 17% to Rs.2300 on BSE on news of delisting its shares from both the leading stock exchanges of India. The Sweden-based promoter company seeks voluntary delisting of shares on getting the board and shareholder’s approval to acquire 11.23% of the paid-up equity share capital. The board meeting of the Indian subsidiary is scheduled on September 19.
Alfa Laval (India) is engaged in manufacturing of industrial equipment and process solutions. Its product range includes high-speed separators, heat exchangers, and flow equipments. The company makes machinery for food and beverages sector.
Alfa Laval share price had made a panicky low of Rs.675 during October 2008; and since then has been riding on a secular bull run right upto Rs.2300 on delisting buzz. Its 52-week low stands at Rs.1114 and its market capitalization is little over Rs.4000 crore.